ICU Medical, Inc. (NASDAQ:ICUI) Issues Quarterly Earnings Results
ICU Medical, Inc. (NASDAQ:ICUI) announced its quarterly earnings results on Wednesday. The medical instruments supplier reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.06, Morningstar.com reports. The firm had revenue of $331.51 million for the quarter, compared to analysts’ expectations of $318.30 million. ICU Medical had a net margin of 6.10% and a return on equity of 8.27%. The company’s quarterly revenue was up 242.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 EPS. ICU Medical updated its FY17 guidance to $3.80-4.20 EPS.
ICU Medical (ICUI) traded down 1.05% during midday trading on Friday, hitting $164.90. 157,095 shares of the stock traded hands. The firm’s 50-day moving average is $172.11 and its 200-day moving average is $158.73. ICU Medical has a 52-week low of $120.15 and a 52-week high of $176.50. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 66.04 and a beta of 0.37.
In other ICU Medical news, VP Alison D. Burcar sold 18,290 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $160.72, for a total transaction of $2,939,568.80. Following the completion of the sale, the vice president now directly owns 3,727 shares of the company’s stock, valued at $599,003.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Vivek Jain sold 100,000 shares of the stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $170.80, for a total transaction of $17,080,000.00. Following the sale, the chairman now directly owns 110,925 shares of the company’s stock, valued at $18,945,990. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 227,349 shares of company stock valued at $38,623,370. 15.90% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in ICUI. Parametric Portfolio Associates LLC raised its stake in ICU Medical by 11.1% in the second quarter. Parametric Portfolio Associates LLC now owns 29,688 shares of the medical instruments supplier’s stock valued at $5,121,000 after buying an additional 2,973 shares during the last quarter. Advisor Group Inc. raised its stake in ICU Medical by 436.2% in the second quarter. Advisor Group Inc. now owns 3,743 shares of the medical instruments supplier’s stock valued at $645,000 after buying an additional 3,045 shares during the last quarter. Suntrust Banks Inc. raised its stake in ICU Medical by 7.6% in the second quarter. Suntrust Banks Inc. now owns 2,462 shares of the medical instruments supplier’s stock valued at $423,000 after buying an additional 174 shares during the last quarter. Sawgrass Asset Management LLC raised its stake in ICU Medical by 22.0% in the second quarter. Sawgrass Asset Management LLC now owns 1,830 shares of the medical instruments supplier’s stock valued at $316,000 after buying an additional 330 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in ICU Medical during the second quarter valued at approximately $245,000. 77.85% of the stock is owned by institutional investors and hedge funds.
ICUI has been the subject of several analyst reports. Zacks Investment Research raised shares of ICU Medical from a “hold” rating to a “strong-buy” rating and set a $195.00 price target for the company in a research report on Wednesday, July 12th. Roth Capital cut shares of ICU Medical from a “buy” rating to a “neutral” rating in a research report on Thursday, May 11th. They noted that the move was a valuation call. BidaskClub cut shares of ICU Medical from a “hold” rating to a “sell” rating in a research report on Wednesday. Sidoti cut shares of ICU Medical from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 20th. Finally, Gabelli reaffirmed a “buy” rating on shares of ICU Medical in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. ICU Medical currently has an average rating of “Hold” and a consensus price target of $156.00.
ICU Medical Company Profile
ICU Medical, Inc is engaged in the development, manufacture and sales of medical devices used in infusion therapy, oncology and critical care applications. The Company’s product line includes needlefree connection devices, custom infusion sets, closed system transfer devices (CSTD) for the handling of hazardous drugs, advanced sensor catheters, needlefree closed blood sampling systems, disposable pressure transducer systems and hemodynamic monitoring systems.
Receive News & Ratings for ICU Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ICU Medical Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.